Implicit Regional Price Deflator for District of Columbia
DCIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.51
Year-over-Year Change
26.08%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator for District of Columbia measures changes in the overall price level for goods and services in the Washington, D.C. metropolitan area. It is a key economic indicator for policymakers and analysts tracking regional inflation.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Implicit Regional Price Deflator (IRPD) is a price index that adjusts regional gross domestic product (GDP) for inflation. It provides a comprehensive measure of price changes across all economic sectors within a specific geographic area, in this case the District of Columbia.
Methodology
The IRPD is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
The IRPD is widely used by economists, policymakers, and businesses to analyze regional economic conditions and inform decisions.
Key Facts
- The IRPD is measured on a quarterly basis.
- It covers all private and public consumption, investment, and government spending.
- The base year for the IRPD is 2012.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for District of Columbia measures changes in the overall price level for goods and services in the Washington, D.C. metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: The IRPD is a key indicator for policymakers and analysts tracking regional inflation and economic conditions in the District of Columbia.
Q: How is this data collected or calculated?
A: The IRPD is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: The IRPD is widely used by economists, policymakers, and businesses to analyze regional economic conditions and inform decisions.
Q: Are there update delays or limitations?
A: The IRPD is measured on a quarterly basis, with some potential for minor update delays.
Related Trends
Average Weekly Hours of All Employees: Professional and Business Services in District of Columbia
SMU11000006000000002
Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia
DCFOODBEVTOBMANNGSP
Gross Domestic Product: State and Local in the District of Columbia
DCGOVSLNGSP
Unemployed Persons in the District of Columbia
LASST110000000000004
Real Gross Domestic Product: Accommodation (721) in the District of Columbia
DCACCOMDRGSP
Business Applications for District of Columbia
BUSAPPWNSADCYY
Citation
U.S. Federal Reserve, Implicit Regional Price Deflator for District of Columbia (DCIRPD), retrieved from FRED.